DGAP-Adhoc

WESTGRUND Aktiengesellschaft: Highest revenues and best results in the company's history

WESTGRUND Aktiengesellschaft / Key word(s): Preliminary Results/Final Results

20.03.2015 08:36

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Berlin, March 20, 2015: According to still preliminary data, Westgrund AG
has closed the business year 2014 with the best results in the company's
history.
The number of real estate units has more than tripled in comparison to the
previous year and reached 16,847 units at year end 2014 (previous year
4,905 units).
The revenues which nearly completely consist of rental revenues will reach
35.9 million euro and thus nearly double compared to the previous year
according to the preliminary data. Rental revenues for those real estate
units which had belonged to the Westgrund group already in 2013 increased
by 4.4 percent in 2014.
The overall performance of Westgrund AG has almost tripled - in line with
the growth in the real estate portfolio - and reached 119.2 million euro.
This increase mainly reflects the results from the valuation of investment.
Earnings before taxes (71.6 million euro) and the consolidated net result
(59.8 million euro) are both expected to more than triple in comparison to
the previous year.
Funds from operations without gains from the sale of properties (FFO I) are
expected to reach 5.6 million euro and thus more than quadruple in
comparison to the previous year.
The company value according to EPRA method (net asset value) will reach
313.5 million euro - more than three times as much as in the previous year.
Undiluted NAV per share will increase to 4.24 euro.
Despite the strong growth, Westgrund AG maintained a conservative financing
structure also in 2014. The ratio of total debt to the market value of
investment properties (Loan to Value) stood at 54 percent at the reporting
date. The average interest rate on total debt declined to 2.6 percent.
The complete and final consolidated annual accounts are expected to be
published at the end of March on the website of Westgrund AG
(www.westgrund.de).


20.03.2015 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: WESTGRUND Aktiengesellschaft
Joachimsthaler Strasse 34
10719 Berlin
Germany
Phone: [phone]
Fax: [phone]
E-mail: [e-mail]
Internet: www.westgrund.de
ISIN: DE000A0HN4T3
WKN: A0HN4T
Listed: Regulated Market in Dusseldorf, Frankfurt (Prime Standard);
Regulated Unofficial Market in Berlin, Hamburg, Stuttgart

End of Announcement DGAP News-Service

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